Outside.in, a New York-based company that aggregates news and blog discussion around towns and neighborhoods, said Tuesday it has raised $3 million in venture funding and hired a new CEO, former About.com general manager Mark Josephson.

The new funding, which brings Outside.in's total capital raised to $5.4 million, comes from existing investors Union Square Ventures, Milestone Venture Partners, Betaworks, and a number of angel investors led by George Crowley. A new investor, the New York City Investment Fund, also joined the round. Outside.in said it plans to use the cash infusion to focus on developing and expanding its technology.

Josephson is replacing co-founder Stephen Berlin Johnson as CEO. Johnson, who made a name for himself before Outside.in as the author of the book Everything Bad Is Good For You, will remain chairman of the board.

About the author

Caroline McCarthy, a CNET News staff writer, is a downtown Manhattanite happily addicted to social-media tools and restaurant blogs. Her pre-CNET resume includes interning at an IT security firm and brewing cappuccinos.
See full bio